Gas Prices Go Up Again



gas prices go up again october 11 2022

 

The average retail price of gas has gone up by 12 cents within just a week, reaching $3.919 a gallon. Gas prices are once again going up for the third straight week after declining for more than 3 months.

Gas Prices Go Up Again

Across the nation, gas prices fluctuated from as high as $6.33 to a low of $3.230. Over the past week, gas prices have seen prices go up from 24 cents to less than one cent across the nation, according to the American Automobile Association (AAA).

The average gallon of gas price is currently 19 cents higher than one month ago, and 65 cents shy of the $3.269 price tag a year ago. Since last Monday, nine states have seen the largest increase in gas prices by over 20 cents. These include Maryland (+34 cents), Delaware (+24 cents), Illinois (+23 cents), Ohio (+23 cents), Tennessee (+21 cents), Louisiana (+21 cents), Indiana (+21 cents), Alaska (+20 cents) and Mississippi (+20 cents). On the other hand, Utah, New York, Colorado, Wisconsin, Georgia, and Nebraska saw the least price increases for gas by less than six cents.

Highest Gas Prices

State Regular Mid-Grade Premium Diesel  
California6.3356.5616.7036.508
Alaska5.5535.7045.9155.189
Oregon5.545.7145.9385.577
Nevada5.4425.6975.8955.418
Washington5.4035.6065.7935.58

California, Nevada, Oregon, Alaska, Washington, and Hawaii continue to see high gas prices reaching beyond the $5 mark. Despite the high gas prices since last week California and Nevada have seen gas prices drop by over four cents.

A gallon of gas in California retails at $6.330 down from last week’s $6.382. While in Oregon a gallon of gas now goes for an average of $5.44. The county of Mono, California has the most expensive gas price with a gallon of gas retailing for $7.325. While Simson, Mississippi has gas retailing at $3.178 a gallon – the cheapest in the country.



Lowest Gas Prices

State Regular Mid-Grade Premium Diesel  
Georgia3.2263.613.9894.637
Mississippi3.253.6033.9584.621
Texas3.2623.6173.9564.566
Louisiana3.3013.6614.0294.678
Florida3.3253.7114.0294.868

Why are gas prices going up?

Amid tightening supply, high gasoline demand has led to higher pump prices nationwide. Since last week demand for gas increased nationally from 8.83 million barrels a day to 9.47 million barrels, according to the Energy Information Administration (EIA).

During the same period total domestic gasoline stocks decreased significantly by 4.7 million barrels to 207.5 million barrels.  Gas prices at the pump on the West Coast had also increased due to ongoing refinery maintenance at roughly six refineries, severely limiting the region’s supply. However, refinery restarts and California officials allowing less expensive winter-blend gasoline to be sold a month ahead of schedule should offer drivers relief at the pump in the coming days.

Gas Price Trends



 RegularMid-GradePremiumDieselE85
Current Avg.3.914.3624.6735.033.226
Yesterday Avg.3.9044.3514.6664.9853.222
Week Ago Avg.3.7964.2614.5714.8733.101
Month Ago Avg.3.7384.1854.4875.0293.061
Year Ago Avg.3.2663.6043.883.4522.796

For the upper Midwest, pump prices have spiked as a deadly refinery fire in Toledo, Ohio has tightened supply in the region. According to some reports, the 160,000 barrel-per-day BP-Husky Toledo refinery may be offline until December due to an ongoing investigation into the blaze.

Drilled but Uncompleted wells (DUCs) in all U.S. regions totaled an estimated 4,283 wells in August 2022, the least in any month since the EIA started estimating DUCs in October 2013. The decline in DUCs in most major U.S. onshore oil- and natural gas-producing regions indicates that more wells are being completed and fewer new wells are being drilled.

State Gas Prices October 10, 2022

StateRegularMid-GradePremiumDiesel 
Alaska5.5535.7045.9155.189
Alabama3.3723.744.1124.753
Arkansas3.3853.7314.0854.733
Arizona4.5684.8555.1425.118
California6.3356.5616.7036.508
Colorado3.7474.0844.3824.866
Connecticut3.4233.9314.3165.128
District of Columbia3.8094.4184.7755.022
Delaware3.5533.9674.2694.859
Florida3.3253.7114.0294.868
Georgia3.2263.613.9894.637
Hawaii5.2155.4715.7026.097
Iowa3.7123.984.4364.969
Idaho4.4234.6034.8395.042
Illinois4.4054.8565.265.128
Indiana4.2044.6224.9915.252
Kansas3.5173.7894.0994.795
Kentucky3.5193.9154.2664.869
Louisiana3.3013.6614.0294.678
Massachusetts3.5644.1124.4195.044
Maryland3.674.1524.4534.928
Maine3.6253.9994.3595.075
Michigan4.3584.7795.1895.354
Minnesota3.7944.0874.475.056
Missouri3.4793.7074.0324.763
Mississippi3.253.6033.9584.621
Montana4.0614.3474.5944.964
North Carolina3.4993.8434.2024.798
North Dakota3.7614.114.4444.965
Nebraska3.6433.8624.3254.86
New Hampshire3.4713.944.3284.936
New Jersey3.6064.134.45.007
New Mexico3.8054.1294.4234.877
Nevada5.4425.6975.8955.418
New York3.6314.064.4255.09
Ohio3.9284.3164.6945.179
Oklahoma3.5673.8794.1284.665
Oregon5.545.7145.9385.577
Pennsylvania3.8824.2364.5035.203
Rhode Island3.484.084.3755.017
South Carolina3.3593.7214.0774.759
South Dakota3.7983.9684.4154.83
Tennessee3.3953.7594.1224.762
Texas3.2623.6173.9564.566
Utah4.1634.384.5754.957
Virginia3.4833.8844.2044.808
Vermont3.7494.2934.6855.013
Washington5.4035.6065.7935.58
Wisconsin3.9984.4124.8364.925
West Virginia3.5213.7694.044.918
Wyoming3.9194.1674.3994.987

Image: Envato Elements



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Samson Haileyesus Samson Haileyesus is a staff writer for Small Business Trends and has several years of progressive experience in media, communication and PR working with government, NGOs and private sector. He is passionate about public outreach, branding, media relations and marketing.

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